Glossary

HMRC

Her Majesty’s Revenue and Customs (HM Revenue & Customs or HMRC) is a government department responsible for the collection of taxes and National Insurance contributions, the payment of some state benefits, as well as other administrative duties.

Other common terms

Open Book Accounting

Open book accounting involves companies publishing information whose availability is often restricted on the grounds of commercial sensitivity. FCSA’s approach to auditing Accredited Members involves

IR35

IR35 also known as the “intermediaries legislation”. This piece of legislation to is designed to prevent tax avoidance for any contractor working for an end-hirer

FCSA Charter

The FCSA Charter sets out the minimum ethical standards and levels of conduct expected from the Freelancer & Contractor Services Association (FCSA) Accredited Members. All